Office Location
23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.
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Are you struggling with overwhelming debt and need legal assistance? Frego Law is here to help!
Our team of experienced Michigan Chapter 13 lawyers is dedicated to guiding and supporting individuals like you through the bankruptcy process.
With Frego Law, you can have peace of mind knowing that you have a knowledgeable and compassionate legal team on your side.
We will help you develop a personalized plan to restructure your debts, stop creditor harassment, and potentially save your home from foreclosure. Our goal is to help you achieve financial stability and a fresh start.
Call Frego Law today to schedule a consultation with our Michigan Chapter 13 lawyers and take the first step towards a brighter financial future. Don’t wait another day to regain control of your life.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a reorganization process that allows individuals with a regular income to create a repayment plan to pay off all or part of their debts over three to five years. [1]
This type of bankruptcy is often chosen by individuals who do not qualify for Chapter 7 bankruptcy, or who have valuable assets they want to keep.
In this process, the debtor submits a proposed repayment plan to the court, detailing how they will pay off their debts. The court-appointed trustee oversees the plan and distributes payments to creditors.
Chapter 13 bankruptcy can help individuals catch up on missed mortgage or car payments, prevent foreclosure or repossession, and reduce overall debt by consolidating it into a manageable repayment plan.
It provides a structured and supervised way for individuals to regain control of their finances and work toward a fresh start.
At Frego Law, our Michigan Chapter 13 lawyers understand the complexities of this process and will work diligently to ensure you receive the best possible outcome. We are here to provide guidance every step of the way and make sure that your needs are met.
Who Can File for Chapter 13 Bankruptcy in Michigan?
In Michigan, individuals who are considering filing for Chapter 13 bankruptcy must meet certain eligibility criteria.
To qualify for Chapter 13 bankruptcy in Michigan, you must have a regular income and their unsecured debts must be less than $419,275, while their secured debts must be less than $1,257,850 (as of 2021).
Additionally, you must have received credit counseling from an approved agency within 180 days before filing for Chapter 13 bankruptcy.
Individuals who qualify for Chapter 13 bankruptcy in Michigan are those who have a regular income and whose debts fall within the maximum limits for unsecured and secured debts.
This type of bankruptcy may be suitable if you have a source of income and are looking to restructure your debts in a manageable repayment plan.
Our experienced bankruptcy attorneys at Frego Law have the knowledge and experience to guide you through every step of the Chapter 13 bankruptcy process. We will work diligently to ensure you receive the best possible outcome.
Types of Debt That Can Be Discharged in a Chapter 13 Bankruptcy in Michigan
When filing for Chapter 13 bankruptcy in Michigan, individuals can have certain types of debt discharged. This means that the debtor will no longer be responsible for paying these debts and they will not appear on the individual’s credit report.
Common types of debt that can be discharged through a Chapter 13 Bankruptcy in Michigan include the following:
- Child support and alimony: These are generally not dischargeable unless the debtor can prove that it would create an undue hardship to pay them.
- Secured debts: Secured debts, such as mortgages and car loans, can be refinanced or restructured through a Chapter 13 bankruptcy. This allows the debtor to keep their collateral while lowering their monthly payments.
- Student loans: Student loans are not typically dischargeable in a Chapter 13 bankruptcy unless the debtor can prove that repaying them would cause an undue hardship.
- Taxes: Certain income tax debts may be included in the bankruptcy if they meet certain criteria.
- Unsecured debts: Credit card debt, medical bills, utility bills, and other unsecured loans.
If you are considering filing for Chapter 13 bankruptcy in Michigan, contact the experienced attorneys at Frego Law today. We understand how overwhelming this process can be, and our knowledgeable team is here to provide you with the best advice and guidance every step of the way.
Benefits of Filing for Chapter 13 Bankruptcy in Michigan
Filing for Chapter 13 bankruptcy can provide numerous benefits to individuals in Michigan. This type of bankruptcy is designed to help individuals regain control of their finances and work toward a fresh start.
It can help consolidate your debts into one manageable repayment plan and prevent foreclosure or repossession of assets. Some of the benefits of filing for Chapter 13 bankruptcy in Michigan include:
- Discharge certain types of debt: Certain types of debt can be discharged in a Chapter 13 bankruptcy, which means that you will no longer be responsible for paying them and they will not appear on your credit report.
- Helps you catch up on missed payments: The repayment plan allows individuals to catch up on missed payments and become current on their debts over time.
- Stops creditors from harassing you: Once you file for bankruptcy, creditors and collection agencies must cease all contact with you.
- Stops foreclosure or repossession of assets: Since the proposed repayment plan is supervised by the court, any impending foreclosures or repossessions can be stopped.
Our dedicated attorneys at Frego Law have the knowledge and experience to guide you through every step of the Chapter 13 bankruptcy process.
Contact Our Experienced Bankruptcy Attorneys at Frego Law Today
At Frego Law, our experienced bankruptcy attorneys understand the unique challenges of filing for Chapter 13 bankruptcy in Michigan.
With years of experience and knowledge in the field, we have helped countless individuals navigate through their financial struggles and reach a successful outcome.
Our legal team is committed to providing the highest quality legal service to each client. We understand that filing for Chapter 13 bankruptcy can be an intimidating experience, but we are here to help you throughout the entire process. Contact us today for a free consultation to discuss your situation.
Source:
[1] Chapter 13 – Bankruptcy Basics. (n.d.). United States Courts. https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-13-bankruptcy-basics
Received Accolades:
206-2010, 2012, 2014-2021
American Bankruptcy Institute
Certified as a Bankruptcy Specialist by ABC
National Association of Consumer Bankruptcy Attorneys
Better Business Bureau
Office Location
23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.